In a filing, ON Semiconductor Corp. revealed its CEO & President El-Khoury Hassane unloaded Company’s shares for reported $0.11 million on Oct 15 ’24. In the deal valued at $72.71 per share,1,500 shares were sold. As a result of this transaction, El-Khoury Hassane now holds 839,210 shares worth roughly $60.62 million.
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Then, El-Khoury Hassane sold 1,500 shares, generating $106,200 in total proceeds. Upon selling the shares at $70.80, the CEO & President now owns 840,620 shares.
Before that, EL-KHOURY LIVING TRUST U/T/A D bought 4,500 shares. ON Semiconductor Corp. shares valued at $322,740 were divested by the Director at a price of $71.72 per share.
TD Cowen reiterated its ON Semiconductor Corp. [ON] rating to a Buy in a research note published on July 30, 2024; the price target was $90. A number of analysts have revised their coverage, including Citigroup’s analysts, who decreased its forecast for the stock in mid July from “a Buy” to “a Neutral”. Morgan Stanley also remained covering ON and has decreased its forecast on July 11, 2024 with a “an Underweight” recommendation from previously “an Equal-weight” rating. Jefferies started covering the stock on May 13, 2024. It rated ON as “a Buy”.
Price Performance Review of ON
On Monday, ON Semiconductor Corp. [NASDAQ:ON] saw its stock jump 1.39% to $72.24. Over the last five days, the stock has gained 7.60%. ON Semiconductor Corp. shares have fallen nearly -13.52% since the year began. Nevertheless, the stocks have fallen -12.74% over the past one year. While a 52-week high of $86.77 was reached on 03/07/24, a 52-week low of $59.34 was recorded on 04/22/24. SMA at 50 days reached $71.51, while 200 days put it at $72.66.
Levels Of Support And Resistance For ON Stock
The 24-hour chart illustrates a support level at 67.51, which if violated will result in even more drops to 62.77. On the upside, there is a resistance level at 76.09. A further resistance level may holdings at 79.93. The Relative Strength Index (RSI) on the 14-day chart is 55.72, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 1.50, which suggests price will go up in the next trading period. Percent R suggests that price movement has been low at 31.09%. Stochastics %K at 62.07% indicates the stock is a holding.
How much short interest is there in ON Semiconductor Corp.?
A steep rise in short interest was recorded in ON Semiconductor Corp. stocks on 2024-10-15, dropping by -0.64 million shares to a total of 23.85 million shares. Yahoo Finance data shows the prior-month short interest on 2024-09-13 was 24.49 million shares. There was a decline of -2.68%, which implies that there is a negative sentiment for the stock.
The most recent change occurred on April 30, 2024 when TD Cowen resumed its ‘”a Buy”‘ rating for the stock and retained the price target to $85.
